**Charity Registration Number: 1186861** ## **Westpark Levy Trust Financial Statements For the Period Ending 31 January 2021** ## **JANE ASCROFT ACCOUNTANCY LIMITED** Chartered accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP ## **Westpark Levy Trust** ## **Financial Statements** **Period from 10 December 2019 to 31 January 2021** ||**Page**| |---|---| |Trustees' Annual Report|**1**| |Independent Examiner's Report to the Trustees|**5**| |Statement of Financial Activities|**6**| |Statement of Financial Position|**7**| |Notes to the Financial Statements|**8**| |**The Following Pages Do Not Form Part of the Financial Statements**|| |Detailed Statement of Financial Activities|**14**| ## **Westpark Levy Trust** ## **Trustees' Annual Report** ## **Period from 10 December 2019 to 31 January 2021** The trustees present their report and the unaudited financial statements of the charity for the period ended 31 January 2021. ## **Objectives and Activities** To promote for the benefit of the inhabitants of Darlington and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants. ## **Achievements and Performance** The WestPark Levy Trust was granted charitable status as a Charitable Incorporated Organisation, Charity Number 1186861 on 10th December 2019. The Trustees completed the tasks or establishing the foundations of good governance in readiness of taking over the responsibility of the West Park Levy from the County Durham Community Foundation and sourcing a new West Park Levy collection agent. Kingston Property Services were appointed in September 2020. In this period the County Durham Community Foundation completed the West Park Levy collection and continued to make grants on behalf of the Trust . In January 2020 the Trustees in conjunction with partners delivered a community consultation on future plans for the part including enhancements and improvements alongside introducing the WestPark Levy Trust to the Community. Unfortunately no further Friends of WestPark meetings where possible due to Covid-19 restrictions. The Trustees moved to digital working to establish the Trust. Spending of the West Park Levy on enhancements and improvements continued working alongside Darlington Borough Council based the West Park Management plan. Ultimately this work led to successfully retaining the Green Flag Award. West Park Levy spending focussed on the third year of enhanced bulb and wild flower planting, furthering the play park plans and engaging Differentia to work with the Trust on new community information and interpretation boards. The main planned focus on spending this year was to be on the 2020 Music on the Hill event. Fortunately no costs were incurred by cancelling the event. The pandemic meant no additional enhancements and improvements were able to be progressed. **1** ## **Westpark Levy Trust** ## **Trustees' Annual Report** _**(continued)**_ ## **Period from 10 December 2019 to 31 January 2021** ## **Achievements and Performance** _**(continued)**_ The community continued to value the enhanced green space provided and continued to get involved in flower bulb planting and regular litter picking. In other work the Trustee worked with BHP Law to establish the framework and processes for Levy payers who needed updated registry documents to remortgage or sell their property inline with updated guidance on rent charges. In December 2020 the Annual Newsletter was distributed alongside the Levy demand on behalf of the WestPark Levy Trust by Kingston. The newsletter included a call to all members of the community to consider joining the Trust as a Trustee to strengthen and expand the skills available to the Trust. While the pandemic certainly slowed physical enhancements and improvements and community involvement, the Trustees have used the time to establish policies and processes for future years. ## **Financial Review** Income during the period totalled £183,569 and expenditure totalled £43,000 giving a surplus of £140,569. At 31st January 2021 this was held in trust by County Durham Community Foundation on behalf of the charity. ## **Plans for Future Periods** In 2021 the Trustee expect Covid-19 restrictions allowing to Restart The Friends of WestPark community meetings Commission the enhancements and Improvements of the Play Park, To commission and install the five new interpretation and notice boards. Increase the biodiversity of the park through the habitat improvements both on land and in the waterways. To Monitor the effectiveness of the path improvements over the previous and this winter period and reduce path damage. To maintain the Park's Green Flag Award Recruit further Trustees who have appropriate skills and better represent the local community. **2** ## **Westpark Levy Trust** ## **Trustees' Annual Report** _**(continued)**_ ## **Period from 10 December 2019 to 31 January 2021** ## **Structure, Governance and Management** The charity was registered on 10th December 2019 with registration number 1186861. The Trust currently has four trustees which is hoped to be increased to eight to twelve. Training will be delivered in house using the Charity Commission guidance for trustees. The Trustee will hold a minimum of four meetings a year and decision can be made both in person, or especially during the pandemic digitally as described in our governance document. Decision are made by simple vote with the Chair having the casting vote if necessary, but in this period decisions have been agreed unanimously. The Trustees have used good practice developed by County Durham Foundation to agree a grant making policy for the West Park Levy incorporating the restrictions of the Levy. The Trustees would like to thank County Durham Community Foundation for their support during the transition of governance to the WestPark Levy Trust of the West Park Levy. The Trustee will continue to work closely yet independently of Darlington Borough Council to progress the aim of the Charity and the impact priorities of the West Park Levy through an agreed updated Management, Maintenance and Partnership Plan. ## **Reference and Administrative Details** ## **Registered charity name** Westpark Levy Trust **Charity registration number** **Charity registration number** 1186861 **Principal office** C/o B H P Law Westgate house Faverdale Industrial Estate Darlington DL3 0PZ ## **The Trustees** Neil Brimer (Appointed 10 December 2019) Robert George (Appointed 10 December 2019) Andrew Buckingham (Chair) (Appointed 10 December 2019) Anthony Cooper (Appointed 10 December 2019) **Independent Examiner** Jane Ascroft FCA MA (Cantab) Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP **3** ## **Westpark Levy Trust** ## **Trustees' Annual Report** _**(continued)**_ ## **Period from 10 December 2019 to 31 January 2021** The trustees' annual report was approved on 22[nd] October 2021 and signed on behalf of the board of trustees by: Andrew Buckingham (Chair) Trustee **4** ## **Westpark Levy Trust** ## **Independent Examiner's Report to the Trustees of Westpark Levy Trust** ## **Period from 10 December 2019 to 31 January 2021** I report to the trustees on my examination of the financial statements of Westpark Levy Trust ('the charity') for the period ended 31 January 2021. ## **Responsibilities and Basis of Report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent Examiner's Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jane Ascroft FCA MA (Cantab) Independent Examiner Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP **5** ## **Westpark Levy Trust** ## **Statement of Financial Activities** ## **Period from 10 December 2019 to 31 January 2021** |||**Period from** **10 Dec 19 to**|**Period from** **10 Dec 19 to**| |---|---|---|---| |||**31 Jan 21**|| |||Unrestricted|| |||funds**Total funds**|| ||**Note**|**£**|**£**| |**Income and endowments**|||| |Donations and legacies|**4**|183,569|183,569| |||`─────────`|`─────────`| |**Total income**||183,569|183,569| |||`═════════`|`═════════`| |**Expenditure**|||| |Expenditure on charitable activities|**5,6**|43,000|43,000| |||`─────────`|`─────────`| |**Total expenditure**||43,000|43,000| |||`═════════`|`═════════`| |||`─────────`|`─────────`| |**Net income and net movement in funds**||140,569|140,569| |||`═════════`|`═════════`| |**Reconciliation of funds**|||| |Total funds brought forward||–|–| |||`─────────`|`─────────`| |**Total funds carried forward**||140,569|140,569| |||`═════════`|`═════════`| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 8 to 12 form part of these financial statements.** **6** ## **Westpark Levy Trust** ## **Statement of Financial Position** ## **31 January 2021** |||**31 Jan 21**| |---|---|---| ||**Note**|**£**| |**Current Assets**||| |Debtors|**11**|141,049| |**Creditors: amounts falling due within one year**|**12**|480| |||`─────────`| |**Net Current Assets**||140,569| |||`─────────`| |**Total Assets Less Current Liabilities**||140,569| |||`─────────`| |**Net Assets**||140,569| |||`═════════`| |**Funds of the Charity**||| |Unrestricted funds||140,569| |||`─────────`| |**Total charity funds**|**13**|140,569| |||`═════════`| These financial statements were approved by the board of trustees and authorised for issue on 22[nd] October 2021, and are signed on behalf of the board by: Neil Brimer Trustee **The notes on pages 8 to 12 form part of these financial statements.** **7** ## **Westpark Levy Trust** ## **Notes to the Financial Statements** ## **Period from 10 December 2019 to 31 January 2021** ## **1. General Information** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is C/o B H P Law, Westgate House, Faverdale Industrial Estate, Darlington, DL3 0PZ. ## **2. Statement of Compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ## **3. Accounting Policies** ## **Basis of Preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going Concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and Key Sources of Estimation Uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements. ## **Fund Accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. **8** ## **Westpark Levy Trust** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 10 December 2019 to 31 January 2021** ## **3. Accounting Policies** _**(continued)**_ ## **Incoming Resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources Expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Financial Instruments** The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. **9** ## **Westpark Levy Trust** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 10 December 2019 to 31 January 2021** ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. ## **Cash at Bank and in Hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Creditors** Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Taxation** The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **4. Donations and Legacies** ||Unrestricted|**Total Funds**| |---|---|---| ||Funds|**2021**| ||£|**£**| |**Donations**||| |Funds held prior to formation of charity|132,932|132,932| |West Park levy|50,637|50,637| ||`─────────`|`─────────`| ||183,569|183,569| ||`═════════`|`═════════`| ## **5. Expenditure on Charitable Activities by Fund Type** ||Unrestricted|**Total Funds**| |---|---|---| ||Funds|**2021**| ||£|**£**| |Costs of charitable activities|36,577|36,577| |Support costs|6,423|6,423| ||`────────`|`────────`| ||43,000|43,000| ||`════════`|`════════`| **10** ## **Westpark Levy Trust** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 10 December 2019 to 31 January 2021** ## **6. Expenditure on Charitable Activities by Activity Type** |||Grant funding||**Total**|**funds**| |---|---|---|---|---|---| |||of activities Support costs|||**2021**| |||£|£||**£**| ||Costs of charitable activities|36,577|6,423|43,000|| |||`════════`|`═══════`||`════════`| |**7.**|**Analysis of Grants**||||| |||||**Period from**|| |||||**10 Dec 19 to**|| |||||**31**|**Jan 21**| ||||||**£**| ||**Payments to Institutions**||||| ||Payments to Darlington Borough Council|||33,091|| ||Payments to BHP Law||||3,486| ||||||`────────`| |||||36,577|| ||||||`════════`| |**8.**|**Independent Examination Fees**||||| |||||**Period from**|| |||||**10 Dec 19 to**|| |||||**31**|**Jan 21**| ||||||**£**| ||Fees payable to the independent examiner for:||||| ||Independent examination of the financial statements||||480| ||||||`════`| ## **9. Staff Costs** The average head count of employees during the period was Nil. No employee received employee benefits of more than £60,000 during the year (2019: Nil). ## **10. Trustee Remuneration and Expenses** Trustees received neither remuneration nor expenses during the period. **11** ## **Westpark Levy Trust** ## **Notes to the Financial Statements** _**(continued)**_ ## **Period from 10 December 2019 to 31 January 2021** ## **11. Debtors** ||**31 Jan 21**| |---|---| ||**£**| |Funds held by CDCF|140,618| |Funds held by Kingston|431| ||`─────────`| ||141,049| ||`═════════`| ## **12. Creditors: amounts falling due within one year** ||**31**|**Jan 21**| |---|---|---| |||**£**| |Accruals and deferred income||480| |||`════`| ## **13. Analysis of Charitable Funds** ## **Unrestricted funds** |||At||||**At**| |---|---|---|---|---|---|---| ||10|December|||**31**|**January**| |||2019|Income|Expenditure||**2021**| |||£|£|£||£| |General funds||–|183,569|(43,000)||140,569| |||`════`|`═════════`|`════════`||`═════════`| ## **14. Analysis of Net Assets Between Funds** ||Unrestricted|**Total Funds**| |---|---|---| ||Funds|**2021**| ||£|**£**| |Current assets|141,049|141,049| |Creditors less than 1 year|(480)|
(480)| ||`─────────`|`─────────`| |**Net assets**|140,569|140,569| ||`═════════`|`═════════`| **12** **Westpark Levy Trust** **Management Information** **Period from 10 December 2019 to 31 January 2021** **The Following Pages Do Not Form Part of the Financial Statements.** **13** ## **Westpark Levy Trust** ## **Detailed Statement of Financial Activities** ## **Period from 10 December 2019 to 31 January 2021** ||**Period from**| |---|---| ||**10 Dec 19 to**| ||**31 Jan 21**| ||**£**| |**Income and endowments**|| |**Donations and legacies**|| |Funds held prior to formation of charity|132,932| |West Park levy|50,637| ||`─────────`| ||183,569| ||`─────────`| ||`─────────`| |**Total income**|183,569| ||`═════════`| |**Expenditure**|| |**_Grant funding activities_**|| |Payments to Darlington Borough Council|33,091| |Payments to BHP Law|3,486| ||`────────`| ||36,577| ||`────────`| |**_Support costs_**|| |Accountancy fees|480| |Other office costs|3| |CDCF admin fee|5,737| |Bank charges|203| ||`───────`| ||6,423| ||`───────`| ||`────────`| |**Expenditure on charitable activities**|43,000| ||`════════`| ||`─────────`| |**Net income**|140,569| ||`═════════`| **14**